Twain Financial Partners Provides $40M Non-Recourse Construction PACE Loan For San Gabriel Hotel
101 W Valley Blvd, San Gabriel, CA, USA
$40,000,000
$75/SF
Building Size
527,000 SF
Asset Type
Hotel
Closing
Apr 21, 2021
AI
The property involved in the transaction is a hotel located at 101 & 111 W. Valley Blvd., 1548 & 1549 S. Del Mar Avenue & 1540 Manley Drive in San Gabriel, San Gabriel Valley. The hotel has a total square footage of 527,000.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $40,000,000
- Loan Type: Non-Recourse Construction PACE Loan
- Loan Terms: Fixed Rate Construction - Perm Loan, 30-year term, 30-year amortization
The lender for this transaction is Twain Financial Partners, with Fran Faulknor representing the company. Jason Roth from Pacific Southwest Realty Services acted as the broker in this deal.
This transaction represents the third largest PACE loan in U.S. history. The loan amount of $40,000,000 was obtained for the construction of the hotel. The loan is non-recourse, and the terms include a fixed rate and a 30-year term with a 30-year amortization period.
Players
San Gabriel Hotel Market Snapshot
Boundary boundary · Hotel · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.40%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93